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+63.43(+0.92%)

Hormel selling off, Alibaba moving higher, L Brands takes a dive

Hormel (HRL): The owner of Skippy and Spam brands cut its sales outlook as they face increasing supplies of meat products and pressure from tariffs. The company trimmed its full-year revenue guidance to between $9.4 billion to $9.6 billion.

Alibaba (BABA): The e-commerce giant reported adjusted earnings below the consensus estimate. Revenue was above forecasts and jumped 61% from a year earlier. Baba saw a jump of 17 million mobile monthly average users from the prior quarter, to a total of 634 million.

L Brands (LB): The Victoria’s Secret parent came in 2 cents a share above estimates, with quarterly earnings of 36 cents per share.

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